Force Motors Trax Cruiser Car Loan EMI Calculator

₹ 28,046.
Here is how - Force Motors Trax Cruiser price starts from ₹ 16,89,514 in Mumbai. If you pay a down payment of ₹ 3,06,306 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 28,046.

The cheapest Trax Cruiser model is 9 STR which is priced at ₹ 16,89,514 in Mumbai. You will need to pay at least a ₹ 3,06,306 down payment to buy this model.

Note: Down payment is the amount you would pay upfront to buy your car. Bank give you a loan for the remaining amount.

Here is a model wise list of max loan amount for Trax Cruiser.

Version	On-road price in Mumbai	Max Loan
9 STR	₹ 16,89,514	₹ 13,83,208
9 STR AC	₹ 18,60,682	₹ 15,23,458
12 STR	₹ 17,08,251	₹ 13,98,935
12 STR AC	₹ 18,58,928	₹ 15,21,986

As a thumb rule, you can get a maximun loan of up to 100% of the ex-showroom price.

Good Practice will be to chose the shortest possible tenure for which you can afford an EMI amount.

• 1. If you select a higher tenure loan, let's say 7 years, your EMI for Trax Cruiser 9 STR will be ₹ 26,333 but you will have to pay interest of ₹ 8,28,764 over the period of 7 years.
• 2. If you select a lower tenure loan, let's say 3 years, your EMI amount will be higher at ₹ 52,943, but your interest payment will be only ₹ 5,22,740 over the 3 years period.

₹ 28,046
Force Motors Trax Cruiser price starts from ₹ 16,89,514 in Mumbai.

We have considered
Down-payement : ₹ 3,06,306
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Trax Cruiser with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 5,64,000

As a general rule, banks or other lenders offer you a car loan 3 to 4 times your annual income. Considering the on-road price of Trax Cruiser starts from ₹ 16.90 Lakh, you can get a loan with an annual income as low as ₹ 5.64 lakh.

Here are the most important things you should consider while getting a car loan for a new Trax Cruiser

• 1. Interest rate - Go for the loan with the lowest interest rate.
• 2. Additional Charges - processing fee, prepayment charges, late payment penalty are some of the important points you need to check before taking a loan.
• 3. Tenue and Max Loan Amount - Select a lender who gives you a loan that you can afford.
  -If Max loan amount is lower, you will have to shell out more money upfront to buy the car.
  -If Tenue is lower, your per month instalment amount will increase.
• 4. Eligibility - Banks may have stricter eligibility requirements compared to NBFCs or other financial institutions.